FTSE 100 movers: Financials push market higher

16th Dec 2009 15:54

Financials and miners have been pushing the FTSE 100 index higher, while investors appear to be deserting the good old solid companies and looking for riskier investments with more potential upside. Rentokil Initial led the way as Deutsche Bank increased its price target for the support services group. In financials, insurers Resolution, RSA Insurance and Prudential are all higher. Metals prices are recovering which helps to boost the share prices of Kazakhmys, Lonmin and Fresnillo. Utilities and lower risk companies are in decline. However, United Utilities went ex-dividend. The latest payment is 11.17p a share so that accounts for most of its decline. Severn Trent was also lower. Tobacco company Imperial and drinks supplier Diageo are also less risky businesses that have lower share prices. Deutsche Bank has cut its rating for Diageo shares from buy to hold because it believes the drinks firm is fully valued. FTSE 100 - RisersRentokil Initial (RTO) 104.70p +4.49%Resolution (RSL) 82.00p +4.33%RSA Insurance Group (RSA) 119.70p +3.46%Liberty International (LII) 479.40p +3.14%Prudential (PRU) 626.00p +2.71%Kazakhmys (KAZ) 1,289.00p +2.71%Amec (AMEC) 775.00p +2.65%Lonmin (LMI) 1,864.00p +2.47%Autonomy Corporation (AU.) 1,549.00p +2.45%Fresnillo (FRES) 816.00p +2.38%FTSE 100 - FallersUnited Utilities Group (UU.) 501.00p -2.53%Royal Bank of Scotland Group (RBS) 31.24p -1.23%Smith & Nephew (SN.) 623.00p -1.11%Cable & Wireless (CW.) 140.00p -1.06%Imperial Tobacco Group (IMT) 1,893.00p -1.05%Reckitt Benckiser Group (RB.) 3,245.00p -1.01%Diageo (DGE) 1,055.00p -0.94%London Stock Exchange Group (LSE) 745.50p -0.86%Burberry Group (BRBY) 579.50p -0.77%Severn Trent (SVT) 1,065.00p -0.75%